Discover: U.S. consumer confidence off 3rd month

MelodieWarner

Consumer confidence dropped in August to the lowest level since March 2009 as uncertainty over the debt crisis and wild swings in the stock market have increased American concerns about the broader economy, Discover Financial Services'
DFS, -0.39%
U.S. Spending Monitor said.

The daily poll--which tracks economic confidence and spending intentions of about 8,200 consumers a month--fell for the third consecutive month to 80.5 in August, 2.2 points lower than July.

In August, 64% of Americans rated the economy as poor, up from 62% in July, while 64% of consumers said economic conditions are worsening, a 5-point jump from July.

Consumers felt slightly better about their personal wealth, with 33% rating their finances as good or excellent, 3 points higher than the prior month. But for the third straight month, 53% of consumers said their finances are getting worse.

Fewer consumers said they plan to cut discretionary spending over the next 30 days, with most intending to spend the same amount.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.